Protector Forsikring ASA (PROT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Protector Forsikring ASA stock NOK 273, price NOK 472, that is 42.2% below the price, quality 60 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range kr 63.93 – kr 537.25 · fair‑value band kr 204.96 – kr 452.83 · the kr 472.40 price screens above the kr 273.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Protector Forsikring ASA, operates as a non-life insurance company, provides general insurance and reinsurance services in Norway, Sweden, Finland, Denmark, the United Kingdom and France. The company provides personal, motor, property, liability, and change of ownership insurances.
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It offers services to commercial lines of business, public sector, and affinity schemes through insurance brokers and agents. Protector Forsikring ASA was incorporated in 2003 and is headquartered in Oslo, Norway.
Stock analysis
Protector Forsikring ASA (PROT) currently trades at kr 472.40, while our model-based Fair Value estimate is kr 273.28, 42% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of kr 338.42 per share, and 0 of the 6 models we run sit above the kr 472.40 price.
Bear case: the Asset-Based group reads lowest at kr 61.50, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 204.96 (bear) to kr 452.83 (bull), the price of kr 472.40 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Protector Forsikring ASA reported revenue of 14.9B NOK in FY2025 versus 5.9B NOK in FY2021, a compound +26.3%/yr. Reported net income was 2.6B NOK in FY2025, compounding +21.1%/yr from FY2021.
Key figures
Market cap 38.9B NOK (≈ $4.1B) Mid · P/E ratio 16.3 · P/S ratio 2.56 · EPS (TTM) kr 29.05 · Dividend yield 4.7% · Net margin 16.3% · Return on equity 33.5% · Return on assets (EBIT) 7.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 76 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 18% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −22% fair-value upside, at −42%, PROT screens richer than that median.
Fair Value models
Bearkr 204.96Fair Value kr 273.28Bullkr 452.83
Price kr 472.40 · Downside -42.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 6.05 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+22.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+33.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.7%
Start year 2020 (pandemic). Over 10 years: +18.9% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+38.0%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+25.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+21.0%
Dividend (yield on the price)4.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.19.0% vs 19.8%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 25%
2025 sits 75% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
News mood ⓘNews mood, the average tone of recent news (12 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: In-house systems enable cost leadership and tailored offerings for large European clients, yet negative free cash flow and operating cash flow point to structural weaknesses.
Main risk: Continued reliance on fully in-house systems risks turning development into ongoing overhead that erodes cost leadership and hits operating margins.
Protector Forsikring develops its core insurance systems and value chains entirely in-house. This setup underpins cost leadership and tailored offerings for large clients and the public sector across several European markets. Our models currently see the shares as overvalued. Does this internal control deliver durable efficiency gains or mainly create ongoing development overhead?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Property & Casualty · 100 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Protector Forsikring ASA (PROT) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of kr 273.28 versus a price of kr 472.40, about 42% lower (overvalued).
What is the fair value of PROT?
Our model-based fair value for Protector Forsikring ASA is kr 273.28 (as of Nov 7, 2026), built from audited fundamentals. The current price: kr 472.40.
What is the quality score of PROT?
Protector Forsikring ASA has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Protector Forsikring ASA (PROT)?
Our model-based price target is the fair value of kr 273.28 (as of Nov 7, 2026) from 6 valuation models. Cautious scenario kr 204.96, optimistic scenario kr 452.83. It is a calculation from audited fundamentals, not an analyst target.
What is the Protector Forsikring ASA stock forecast for 2026?
Our models put fair value at kr 273.28, about 42% lower versus a price of kr 472.40 (overvalued). Cautious scenario kr 204.96, optimistic scenario kr 452.83. The calculation is refreshed regularly with new filings.
What is the revenue of Protector Forsikring ASA (PROT)?
Protector Forsikring ASA reported trailing-twelve-month revenue of about 15.2B NOK (latest available figure, as of Nov 7, 2026).
Does Protector Forsikring ASA pay a dividend?
Protector Forsikring ASA currently shows a dividend yield of 4.66% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Protector Forsikring ASA (PROT) and when is the ex-dividend date?
Protector Forsikring ASA pays a dividend of kr 22.00 per share a year, a dividend yield of 4.7%. The last ex-dividend date was Oct 27, 2026. A dividend has been paid every year since 2021. The payout ratio is 75.7% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Protector Forsikring ASA (PROT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Protector Forsikring ASA it is kr 273.28 per share (as of Nov 7, 2026), against a price of kr 472.40. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Protector Forsikring ASA stock overvalued or undervalued in 2026?
As of Nov 7, 2026, PROT trades above its calculated fair value: price kr 472.40, fair value kr 273.28, a gap of about −42% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PROT?
No. The price is what the market pays today (kr 472.40); the fair value is what the company's own numbers justify (kr 273.28). For Protector Forsikring ASA the two are kr 199.12 per share apart. That gap is exactly why we show both numbers side by side.
How much is Protector Forsikring ASA worth?
The market values Protector Forsikring ASA at about 38.9B NOK (market capitalisation, as of Nov 7, 2026). Per share that is kr 472.40; our models calculate a fair value of kr 273.28 per share.
What do the bullish and bearish scenarios say about PROT?
Our models span a range for Protector Forsikring ASA: cautious scenario kr 204.96, base kr 273.28, optimistic kr 452.83 per share (as of Nov 7, 2026, price kr 472.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PROT?
Protector Forsikring ASA trades at a price-to-earnings ratio of 16.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 273.28 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings: 12.7. Other multiples: PEG 0.4, P/B 5.1, P/S 2.6, EV/EBITDA 11.3.
What is the PEG ratio of PROT?
The PEG ratio of Protector Forsikring ASA is 0.36 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Protector Forsikring ASA (PROT)?
Balance-sheet figures for Protector Forsikring ASA (as of Nov 7, 2026): return on equity 33.5%, debt of 0.31 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is PROT from its 52-week high?
Protector Forsikring ASA trades at kr 472.40, about 12% below its 52-week high of kr 537.25 and 18% above the low of kr 400.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 273.28 is for.
Which stocks are comparable to Protector Forsikring ASA?
From the same area (Financial Services) we also value Chubb Limited, The Progressive Corporation, The Travelers Companies, Inc, The Allstate Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Protector Forsikring ASA stock attractive at the current price?
The data as of Nov 7, 2026: price kr 472.40, calculated fair value kr 273.28 (−42%), Quality Score 60/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PROT calculated?
We run Protector Forsikring ASA through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of kr 273.28 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Protector Forsikring ASA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Protector Forsikring ASA (PROT)?
The closing price on Nov 6, 2026 was kr 472.40. Our model-based fair value is kr 273.28, about 42% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Protector Forsikring ASA right now?
The price sits above even our optimistic bull case (kr 452.83). The favourable scenario is already priced in. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 204.96 to kr 452.83) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Protector Forsikring ASA (PROT) come from?
Earnings per share at Protector Forsikring ASA grew +17.1 % a year from 2012 to 2023. Broken into its drivers: revenue per share +17.0 %, EBIT margin −5.3 %, tax rate +0.2 %, residual (interest, one-offs) +5.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Protector Forsikring ASA
How large is the market capitalisation of Protector Forsikring ASA (PROT)?
The market capitalisation of Protector Forsikring ASA is 38.9B NOK (≈ $4.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Protector Forsikring ASA (PROT)?
The price-to-sales ratio of Protector Forsikring ASA is 2.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Protector Forsikring ASA (PROT)?
Earnings per share at Protector Forsikring ASA are kr 29.05 (price ÷ EPS = P/E 16.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Protector Forsikring ASA (PROT)?
The dividend yield of Protector Forsikring ASA is 4.7% (payout 75.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Protector Forsikring ASA (PROT)?
The net margin of Protector Forsikring ASA is 16.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Protector Forsikring ASA (PROT)?
The return on equity (ROE) of Protector Forsikring ASA is 33.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Protector Forsikring ASA (PROT)?
On an EBIT basis the return on assets of Protector Forsikring ASA is 7.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Protector Forsikring ASA (PROT)?
The operating margin of Protector Forsikring ASA is 26.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Protector Forsikring ASA (PROT)?
Revenue at Protector Forsikring ASA is growing +21.9% versus a year earlier (3y avg +33.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Protector Forsikring ASA (PROT)?
Earnings per share at Protector Forsikring ASA are growing +82.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Protector Forsikring ASA (PROT) generate?
The free cash flow of Protector Forsikring ASA is −201M NOK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Protector Forsikring ASA (PROT) carry?
The net debt of Protector Forsikring ASA is 1.4B NOK (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 7, 2026